It is demoralizing to lose any precious item and even more distressing to be swindled. Yet, not everyone aims to live by an established, silent code of being a watcher. Bitcoin and crypto did succeed in tapping the security of the masses to bring forth a resilient, hacker-proof machine.
The problem is, the distributed and decentralized nature of cryptocurrencies packed the asset’s responsibility right at the holder’s doorstep. And this is where all havoc and unexpected misery is unleashed. With too much power comes great responsibility, a thing that not a crypto holder is aware of. Sometimes, crypto losses happen because of an unexpected slip, while in other times, guards are down.
Either way, thousands of crypto holders often narrate their ordeals, venting their frustrations in social media of how they downright fell for a con master. How then, for those who haven’t had their ego minced by falling prey to dishonest artists, can one stay safe and ahead of the game? How can one protect their bags from being drained? How can you be fool-proof?Learning how to keep your crypto safe is a skill required for smooth sailing in the fast-moving but developing cryptocurrency space. Learn more here: Click To Tweet
How to Keep Your Bitcoin and Crypto Safe
Admittedly, the digital nature of cryptocurrencies makes it incredibly hard for some holders to plug all holes and seal fractures. However, all is not lost. Fret not, for there is certainly a proven, time-tested way to stay safe and reap the benefits of crypto anywhere in the world.
One rule of thumb is to use a reputable crypto provider. While you may have a reason to use an unregistered crypto exchange, settling for a reputable, highly liquid, and trusted crypto exchange with an insurance scheme is a safe bet.
Always keep your private keys private. Private keys are akin to your PIN and bank account password. If you safely keep them safe, you should do the same for your all-important private keys.
Activate that two-factor authentication. Download an authenticating software like Google Authenticator or Authy to keep your wallets and exchange access secure. The beauty is, they are free.
They won’t know if you don’t say. Yes, you made several millions last year from crypto. Don’t be tempted to broadcast your success on social media. Do this and you may find yourself losing your hard-earned crypto.
New to crypto? Learn more about privacy coins and how it is a better way of transacting on-chain.
Crypto Current will be guiding all of you who are new to the cryptocurrency world to becoming a cryptocurrency and blockchain expert. Crypto Current was founded to give access to information to everyone on current events occurring in cryptocurrency and blockchain in a digestible way. Since its creation, we have created content that impacted thousands of people through its podcast, blog, and social media.